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Maximising the opportunities for redundant farm buildings
With modern machinery getting bigger and bigger, there are now many traditional farm buildings which have become redundant. Below is just one example of how Stephensons Rural have assisted a client in this scenario.
Our instructions were to advise the client on the most suitable way to maximise the value of a range of redundant traditional farm buildings.
The client’s holding included a farmhouse, c.145 acres of agricultural land, a range of modern buildings and a range of traditional farm buildings.
Stephensons Rural’s work included a detailed analysis of the various options available which included advice and budgets relating to:
- Conversion to residential dwellings
- Conversion to holiday lets
- Use as storage units
- Conversion to rural offices
Taking advice from the local Council and from the analysis completed above, it was decided that the most suitable use for the buildings would be as three residential dwellings.
Stephensons Rural then oversaw the planning process which initially provided advice to the client on Class Q conversion vs a full planning application. Due to the complexities of the site and certain restrictions within the Class Q provisions, a decision was made to go for an outline application.
Our work then included obtaining pre-application advice from the Council together with a number of surveys, detailed drawings and elevations which all supported an outline planning application.
Once a planning permission was obtained to convert the buildings to three residential dwellings, advice and budget figures were also provided on three options that the client presented:
- Option to develop and let the units out
- Option to develop and sell the units
- Option to sell with the benefit of the planning permission
On appraising the options above and the likely costs and returns available, the client sold the units with the benefit of a planning permission in Spring 2021. The client was delighted with the result which has realised significant funds from a redundant asset on the holding.